Bionomics progressing with Alzheimer's drug

Bionomics (ASX:BNO) has selected an Alzheimer's drug candidate from its alpha-7 programme. The new candidate, BNC375, is now headed for the clinical trial stage.

The company said it plans a dual-track strategy, whereby it will prepare for both clinical trials and strategic partnering options.

Bionomics will now start setting the stage for an Investigational New Drug application with the US FDA by conducting formal toxicology studies and GMP manufacturing scale-up

BNC375 is one of several proprietary compounds Bionomics had been evaluating under the alpha-7 programme.

The compounds are positive allosteric modulators of the alpha-7 nicotinic acetylcholine receptor, with applications in improving memory and learning defects in neurodegenerative diseases including Alzheimer's disease.

Bionomics said BNC375 outperformed benchmark alternative treatments including Donepezil during the company's pre-clinical testing.

It displayed potential competitive advantages including rapid onset of action, no potential for developing a tolerance and suitability for concomitant use with other Alzheimer's medicines such as acetylcholinesterase inhibitors.

BNC375 has been added to a development pipeline that also includes BNC210 – an anxiety drug candidate licensed to Ironwood Pharmaceuticals for up to US$345 million ($327.6 million) – and BNC105, a cancer drug candidate in phase II trials for ovarian cancer.

The pipeline also includes the Kv1.3 programme, covering prospective treatments for autoimmune conditions including multiple sclerosis.

Bionomics had been collaborating on the program with Merck Serono, but in June revealed that it is seeking alternative partners after the pair mutually agreed to call off the collaboration.

Bionomics (ASX:BNO) shares were trading unchanged at 33c as of around 3pm on Tuesday but rose 2c from yesterday’s open.